A payment came out of my bank account for my old car loan before my new payments started. What do I do?

This is common if you have a previous car payment scheduled to come out a few days before taking possession of your new vehicle and loan. Don’t worry! We always tell customers to be prepared for a possible payment to be withdrawn for their previous loan as it can take banks up to 10 business days to clear the previous loan. In the event that a payment is withdrawn, you will be reimbursed by your financial institution via cheque or an electronic transfer.